MTNL to list on NYSE soon

MTNL is gearing up to be listed on the New York Stock Exchange. MTNL in a statement has said "The company has made its successful public filing with the NYSE on September 27, 2001 after getting the clearance of the Securities and Exchange Commission." The listing will be done through conversion of Global Depositary Receipts into American Depositary Receipts (ADRs). The company earned a net profit of Rs 1,504 crore on income of Rs 5,785 crore for the year ended March 31, 2001.